Demand vs Supply Essay Example for Free

Demand vs Supply EssayThe cardinal main driving forces of the economy argon try and demand. Understanding the basic concepts of supply and demand support help an organization focus on the bottom line. According to Gretzen (2007), demand is the relationship between expense and quantity. Supply refers to the amount of a good or gain available at any particular price. The principle of supply and demand describes a balance that develops between the supply of an item or service and the demand for it (Kleinman, 2009). Economics plays a major role in the health safeguard industry. As a resource, the health c atomic number 18 workforce is a determinant of the balance between supply and demand. The health c be workforce consists of absorbs, physicians, and other ancillary health care workers such as certified suck ins aides (CNAs) and long-suffering care associates (PCAs). The supply of health care workers straightway impacts the demand of quality care deported to patient o fs.SERVICE OR PRODUCTwellness care organizations have specific stated missions and visions to map out their fundamental right smart of operation. In health care, the workforce is instrumental in assisting with the organizational delivery of services to consumers (patients). The primary get laid for all health care workforce personnel is that of inadequate staffing. This paper focuses on the staffing in force(p)ness of adjunct staffing of health care personnel within the inpatient setting.IMPACTNursing managers formulate staffing patterns on a workaday basis. The staffing of inpatient units requires a knowledge of unit census (total bed capacity),consideration of patient eagerness (level of care required for the patient), and skill mix ( nursing hours per patient per day and nurse patient ratio) (U. S. Department of Health and Human Services, 2002). Often times, inadequate staffing is due to a high rate of call outs of sickness or other emergencies. Inadequate staffing directl y impacts patient safety and quality of care. All health care titles render supplemental staffing coverage in one of two ways, overtime and through per-diem agencies. Overtime employment provides level(p) full time employees with monies set at a rate of time and half for any plain work completed over the prescribed 40 hours a week.Per-diem agencies are outside contractors capable of providing their take in qualified titled personnel to fill vacancies with monies defined at a set rate. Patients are admitted to inpatient setting with varied co-morbidities may or may not indirectly increase the necessity of staff. Patients are often admitted for diagnoses of altered mental status, agitation / combativeness, risk for fall, suicidal ideation, and alcohol or drug intoxication. umpteen patients require a higher level of skilled care, such as turning and repositioning, and assistance with activities of daily living such as toileting and eating. It requires a higher staff to patient rat io to provide safe, effective quality care.PERSPECTIVE AND RATIONALEAccording to published reports there are key factors affecting the enough of the health care workforce. Some key factors include an aging workforce of where 40 percent of practicing physicians are older than 55, and one-third of the nursing workforce is over 50 with a majority of both professionals seeking to retire within the next 10 years (Alliance for Health Reform, 2011). The largest groups of health professionals in the United States are composed of Registered Nurses. Statistically, there is a huge decline in the numbers of nurses within all regions of the U.S. An estimated 118,000 FTE RNs leave alone exit the workforce within the next five years (Staiger, Auerbac, Buerhaus, 2012). This potentially leaves a major empty in terms of numbers of bodies needed to fill vacated positions. Low staffing levels are associated with higher rates of indecent outcomes that are directly sensitive to nursing attention, s uch as urinary tract infections, pneumonia, pressure ulcers, and falls (American Federation of Teachers, 2012).Unintended additional costsassociated with the development of complications in patients are coarseer than labor savings when units are short-staffed. Acquiring pressure ulcers are estimated to cost the health care industry $8.5 billion per year (Kleinman, 2009) Overtime costs and per-diem agency costs cant stand alone to solve the issues of staffing shortage. Their unite usage enables institutions to deliver optimal health care services to consumers/ patients. The supply of overtime and per-diem staff meets the change magnitude demands of patients. It also assists in the delivery of quality care through services rendered. In terms of patient safety, the potentiality of the risk of injury to patients via falls, medication errors, and or sentinel events decreases.CONCLUSIONThe United States is a great consumer demand for health care services. The supply of such services is affected by varied factors. These factors directly influence the financial stability of health care organizations. Recessional times cause delays in life and retirement plans for health care professionals. In recessional times, there are noted changes in the supply and demand of the health care workforce. The shortage of registered nurses and providers in the workforce may inadvertently lead to a reduction in health care access for consumers. Inadequate staffing levels place heavy burdens on the nursing staff. Adverse events such as falls, hospital acquired infections and medication errors are potentially painful and life sonorous events. Adverse events can result in considerable costs to be paid by the understaffed institution.For this reason alone, supplemental staffing via agency and overtime personnel provides a measure of change magnitude patient safety. The rising is trending towards the assistance in the recovery of the health care workforce shortage. It will rely heavil y on the provisions made by the Affordable Care Act of 2010 (Alliance for health reform, 2011). Recruitment and reinvestment in health care professions especially nurses and physicians will assure sufficient supply of workforce personnel to meet the increased demands of health care economy and its consumers( Kaiser Foundation (2012). The Joint Commission bolsters workforce infrastructure through in-service and move education, supporting nursing education, and the adoption of set staffing levels based oncompetency and skill mix sexual congress to patient mix and acuity (Stanton, 2012). It also supports the establishment of financial incentives for health care organizations investing in nursing and workforce services.REFERENCESAlliance for Health Reform. (April, 2011). Health care workforce Future Supply vs. Demand. Retrieved from http//www.allhealth.org/publications/medicare / health_care_workforce.American Federation of Teachers. (2012). Issues Healthcare Staffing. Retrieved from http//www.aft.org/issues/healthcare/staffing/index.cfmChanges in Health Care Financing Organization. (August, 2009). Issue brief contact of the economy on health care. Retrieved from http//www.academyhealth.org /files/hvfo/findings0809.pdfGetzen, T.E. (2007). Health economics and financing. (3rd ed.). John Wiley and Sons, Inc., Hoboken, NJ.Kleinman, C. (2009). Health care supply demand. Retrieved from http//www.community.advanceweb.comStaiger, D. O., Auerbach, D. I., Buerhaus, P. I. (2012, April). Registered nurse labor supply and the recession- Are we in a bubble? New England Journal of Medicine, (366), 1463-1465.Stanton, M. (2012). Hospital nurse staffing and quality of care. Retrieved from http//www.ahrq.gov/research/nursestaffing/nursestaff.htmU.S. Department of Health and Human Services. (July, 2002). Projected supply, demand, and shortages of registered nurses 2000- 2020. Retrieved from http//hrsa.gov.The Kaiser Foundation. (2012). Nursing workforce Background brief. Retri eved from http//www.kaiseredu.org/Issues-Modules